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The Texas Lawbook

Free Speech, Due Process and Trial by Jury

  • Appellate
  • Bankruptcy
  • Commercial Litigation
  • Corp. Deal Tracker/M&A
  • GCs/Corp. Legal Depts.
  • Firm Management
  • White-Collar/Regulatory
  • Pro Bono/Public Service/D&I

CDT Roundup: 21 Deals, 15 Firms, 218 Lawyers, $10.4B

November 2, 2021 Claire Poole & Allen Pusey

ESG, or principles based on environmental, social and governance issues, has become a buzzword for shareholders, much like socially responsible investing did beginning in the 1960s. 

The desire to integrate ESG also runs high with private asset investors and managers, with 76% of them seeing an increase in demand for their organizations’ ESG capabilities over the past 12 months, according to alternative assets data firm Preqin.

However, implementing ESG policies has been a challenge, the firm says. Preqin adds that the lack of data, unified standards and common definitions makes it difficult to assess the quality of ESG investments and increases the risk of “greenwashing” — changing the way processes and conditions are described, rather than actually changing the processes. In other words: spin.

Still, ESG makes up a big chunk of what’s already out there. As of October, there was $3.1 trillion of private capital assets under management by firms committed to ESG investing, 36% of the $8.52 trillion globally.

More is coming. The firm estimates that ESG-committed managers raised $403 billion in the first nine months of 2021 compared with $506 billion raised throughout 2020. 

The future for ESG, Preqin says, will be a combination of client demand and regulatory pressures that will continue to push private capital managers into prioritizing the concept.

In Texas dealmaking this week, there were 21 transactions reported worth nearly $10.4 billion — including 15 M&A deals worth $9.3 billion and six capital markets transactions worth $1.1 billion. There were 15 different firms and 218 mostly Texas lawyers who worked on those deals.

Last week there were 21 transaction worth $18.7 billion and last year at this time there were only 10 worth just under $4 billion.

Weekly Corporate Deal Tracker Roundup Stats

A compilation of weekly stats from The Lawbook's CDT Weekly Roundup
(Deal Values in Millions)

Week Ending
Deal CountAmountFirmsLawyersM&A CountM&A Value $MCapM Count
CapM Value $M
14-Jun-20259$4788133603$478
07-Jun-202516$26,2101119611$24,7445$1,466
31-May-202519$23,3811116612$18,6657$4,717
24-May-202515$24,0331112113$23,6242$409
17-May-202516$21,7601214511$18,6155$3,145
10-May-202524$33,1751620619$30,7655$2,410
03-May-202511$4,249139011$2,226.52$2,022.5
26-Apr-202512$8,78791689$6,0113$2,776
19-Apr-202511$8,09771389$7,9852$112
12-Apr-202513$2,392815210$2,0653$327
05-Apr-202519$27,7621518816$25,4733$2,289
29-Mar-202521$8,1881025816$4,1255$4,064
22-Mar-202519$6,4851423115$4,1284$2,857
15-Mar-202513$13,7371315110$9,9324$3,805
8-Mar-20257$2,2345665$2242$2,100
1-Mar-202511$3,05087510$2,5501$500
24-Feb-2512$16,39771496$6,6356$9,862
17-Feb-2517$12,1361313410$9,4112$2,725
10-Feb-2514$7,15491799$4,9505$2,204
3-Feb-2516 $10,068720011$7,5535$2,515
25-Jan-2514$10,261101259$2,2075$8,054
18-Jan-2519$7,3821531612$2,3007$5,082
11-Jan-2521$33,5601618716$32,5215$1,039
4-Jan-259$6,8279809$6,82700
21-Dec-2411$2,79811928$2,2293$570
14-Dec-2415$5,3231218612$3,8123$1,511
07-Dec-2416$4,7661023111$2,32152,445
30-Nov-2410$10,29191034$8,2906$2.001
23-Nov-2415$4,5531515311$3,3794$1,174
16-Nov-2417$11,4881124513$10,1864$1,303
09-Nov-2414$2,1101213912$1,4102$700
02-Nov-2412 $52,788 1110711$52,7381$50
26-Oct-248$3,1608657$3,0651$75
19-Oct-2412$5,3041113611$4,5541$750
12-Oct-2417$8,4381215015$8,1162$322
05-Oct-2422$23,1811218915$19,9807$3,201
28-Sep-2411$2,35671447$534$2,303
21-Sep-2412$9,568101695$4,1017$5,467
14-Sep-2424$10,9881223516$7,1758$3,813
7-Sep-2412$20,4201616811$20,3071$112.9
31-Aug-2413$20,631913412$14,7751$5,856
24-Aug-2419$8,4522132516$7,1023$1,350
17-Aug-2425$49,1961630411$39,38614$9,810
10-Aug-2420$12,2641531216$9,7944$2,470
03-Aug-2426$16,4981633418$8,1378$8,361
27-Jul-2419$16,4422127115$13,8384$2,604
20-Jul-2415$16,0161418410$14,2325$1,784
13-Jul-2420$17,220 1426518$7,146 2$10,074
6-Jul-2411$3,941 11958$2,650 3$1,291
29-Jun-2414$6,296 152248$6,296 6$1,927
22-Jun-2412$5,679 81375$210 7$5,469
15-Jun-2413$9,895 1621410$5,280 3$4,615
8-Jun-2419$23,859 1323912$19,436 7$4,423
1-Jun-2412$34,510 111479$26,110 3$8,400
25-May-2413$9,684 1517110$4,434 3$5,250
18-May-2411$5,490 111738$3,129 3$2,361
11-May-2422$14,855 1422716$11,105 6$3,750
4-May-2413$3,139 98710$1,297 3$1,842
27-Apr-2410$6,684 62810$6,684 00
20-Apr-2419$15,989 111479$5,208 10$10,781
13-Apr-2413$8,952 97610$1,652 3$7,300
6-Apr-2423$26,616 1422214$13,501 8$13,116
30-Mar-2412$9,286 81368$4,299 4$4,987
23-Mar-2418$5,451 1726616$4,759 2$692
16-Mar-2421$11,437 1318614$9,316 6$2,070
9-Mar-2423$4,695 2121819$2,723 4$1,972
2-Mar-2420$9,108 1937214$4,558 6$4,550
24-Feb-2419$16,382 1224815$9,507 4$6,875
17-Feb-2416$29,932 1515712$29,216 4$716
10-Feb-2425$10,750 1719619$5,372 6$5,379
3-Feb-2412$8,416 181259$3,416 3$5,000
27-Jan-249$8,165 9878$7,815 1$800
20-Jan-2414$4,084 1210912$3,219 2$865
13-Jan-2417$33,588 1225612$26,765 5$6,823
6-Jan-248$7,915 8846$7,265 2$650
30-Dec-2317$14,599 129915$2,714 2$11,885
23-Dec-2323$4,182 1321916$1,813 7$2,370
16-Dec-2313$16,436 132807$15,150 5$1,286
9-Dec-2326$14,633.90 1724416$8,095 10$6,538.90
2-Dec-2313$6,720 95712$6,630 1$90
25-Nov-239$4,835 91316$1,785 3$3,050
18-Nov-2322$6,568.70 1718414$4,709.20 8$1,859.50
11-Nov-2315$9,825 1317912$6,581 3$3,244
4-Nov-2315$20,582.50 1419312$19,417.50 3$1,165
28-Oct-2318$68,419.10 1815215$66,646 3$1,773.10
21-Oct-2316$6,755.90 1616515$6,755.90 1$3
14-Oct-2314$67,851.20 131259$61,998.50 5$5,852.70
7-Oct-2317$6,595.50 1322816$5,995.50 1$600
30-Sep-2317$1,896.45 1318914$806.45 3$1,090
23-Sep-2323$6,432.70 1723016$1,402.80 7$5,029.90
16-Sep-2325$23,226.70 2335316$17,239 9$5,987.70
9-Sep-2312$6,369 81027$4,311 5$2,058
2-Sep-2314$2,522 69213$1,322 1$1,200
26-Aug-2317$12,160.25 1320215$6,573.25 2$5,587.00
19-Aug-2319$11,505 1321315$11,255 4$250
12-Aug-2319$9,698.80 131847$3,270 12$6,428.80
5-Aug-2313$5,201 1211812$5,051 1$150
29-Jul-2315$21,031.60 1319611$18,292.00 4$2,739.60
22-Jul-2318$3,992 1213013$2,808 5$1,184
15-Jul-2313$8,254.95 138113$8,254.95 00
8-Jul-2316$5,441.45 1217211$2,443 5$2,998.45
1-Jul-2316$6,872 1010512$5,474 4$1,398
24-Jun-2313$10,914 1620110$7,874 3$3,040
17-Jun-2317$5,880.70 1515115$4,705.70 2$1,175
10-Jun-2319$8,516.10 1311116$6,252.40 3$2,263.70
June 3 202312$6,104.42 121388$4,256.92 4$1,847.50
27-May-2317$12,200 106711$6,165 6$6,035
20-May-2311$22,458.10 81034$19,455 7$3,003
13-May-2312$7,034 101018$5,460 4$1,574
6-May-2320$3,297.60 1819617$2,985.60 3$312
29-Apr-2323$3,691.20 1813517$1,969.70 6$1,721.50
22-Apr-2316$5,570 1410414$4,750 2$1,000
15-Apr-2312$23,818.10 95910$21,618.10 2$2,200
8-Apr-2316$7,949 91739$5,472 7$3,477
1-Apr-2321$18,676.70 1217511$10,926.70 10$7,750
25-Mar-2315$8,779.50 101415$2,362 10$6,416.50
18-Mar-237$14,048.80 6695$13,345 2$703.80
11-Mar-2321$11,576 1616516$8,131 5$3,445
4-Mar-2320$9,668 1122816$8,209 4$1,459
25-Feb-2313$5,335 1313012$4,235 1$1,200
18-Feb-2314$5,743.70 131588$898.70 6$4,845
11-Feb-2316$12,088 1213712$9,965 4$2,123
4-Feb-2317$8,066 1514013$5,614 4$2,452
28-Jan-237$2,180 7755$1,692.75 2$488
21-Jan-2317$5,768 1617412$1,918 5$3,850
14-Jan-2311$2, 800101028$421 3$2,400
7-Jan-2318$8,296 1116714$6,461 3$1,835
31-Dec-2214$2,732 119912$2,092 2$640
17-Dec14$7,919 1311512$7,419 1$500
10-Dec-2214$10,093 128811$7,093 3$3,000
3-Dec-2226$12,800.90 1117220$4,141 6$8,659.90
26-Nov-228$2,266.70 853$76 5$2,190.70
19-Nov-2221$2,886 1521219$2,550 2$336
12-Nov-2213$15,093.70 9819$14,200 4$893.70
5-Nov-222519,337.201650922$8,267.20 3$11,070
29-Oct-2215$7,805.30 911614$7,180.30 1$625
22-Oct-2220$8,193.50 1325313$5,442 7$2,751.50
15-Oct-229$3,046.10 91397$2,588.30 2$457.80
8-Oct-2219$2,011.80 1211416$833.80 3$1,178
1-Oct-2223$5,532.90 1615618$4,952.30 5$580.60
24-Sep-2218$5,194 1421615$4,050 3$1,144
17-Sep-2221$8,352.30 1232015$4,759.60 6$3,592.70
10-Sep-2215$19,853.50 1012613$19,403.60 2$450
3-Sep-229$2,312 9629$2,312 00
27-Aug-2216$30,891.70 1013515$30,666.40 1227.7
20-Aug-2212$1,977 815299253$1,052
13-Aug-2218$8,004.70 1124211$2,844.70 7$5,160
6-Aug-2224$7,948.90 1224017$3,577 7$4,371.90
30-Jul-228$6,941 9787$6,839 1$102
23-Jul-2211$801 119210$801 10
16-Jul-2214$3,650 1012214$3,650 00
9-Jul-2210$3,557.70 7689$3,557.70 10
2-Jul-2218$8,609.40 1315215$2,754.40 3$5,855
25-Jun-2215$6,142 131469$2,017 6$4,125
18-Jun-2217$11,890.10 1422815$11,410 2479.7
11-Jun-2217$7,600 1212310$2,300 7$5,300
4-Jun-2212$2,937 101279$692 3$2,245
28-May-229$3,197.60 11869$3,197.60 00
21-May-2214$7,284.50 1218511$6,609 3$675.50
14-May-2211$306.60 98010$306.60 1$225
7-May-2216$10,451.75 1210812$1,827 4$8,624.75
30-Apr-2216$2,296.50 1615712$895.50 4$1,401
23-Apr-2210$2,241 11588$1,641 2$600
16-Apr-2211$6,643 71568$2,359 3$4,284
9-Apr-2217$4,429 1418411$1,690 6$2,739
2-Apr-2213$1,755 88410$1,145 3$610
26-Mar-2211$3,205 8656$200 5$3,005
19-Mar-2213$2,239.17 910613$2,239.17 00
12-Mar-2218$12,016 1123915$11,965 2$51.35
5-Mar-2217$6,786 1313713$5,161 4$1,625
26-Feb-2212$5,095 81499$4,437.50 3$658
19-Feb-2217$22,229 1717414$21,354 3$875
12-Feb-2212$2,344.70 10738$641.70 4$1,703
5-Feb-2211$2,503 89911$2,503 00
29-Jan-2211$3,872 1210112$3,872 00
22-Jan-2213$5,143.50 109912$4,842.50 1$301
15-Jan-2212$7,605 91559$6,480 3$1,025
8-Jan-2213$8,256.20 1110213$8,256.20 00
1-Jan-229$1,273.80 6509$1,273.80 00
25-Dec-2121$4,734.75 1117616$3,410 5$1,324.75
18-Dec-2126$7,325.20 1519318$3,640.20 8$3,685.20
11-Dec-2116$5,017 1010913$1,417 3$3,600
4-Dec-2114$2,310 8868$2,310 6$1,882.05
27-Nov-219$3.460.1101016$1,758 3$1,702.60
20-Nov-2120$22,792 1515712$18,864.50 8$3,928
13-Nov-2121$26,729 1217813$11,822 8$14,907
6-Nov-2112$8,303 1315710$6,682 3$1,621
30-Oct-2121$10,368 1521815$9,24.46$1,103.00
23-Oct-2121$18.783.11522211$12,314 10$6,468.60
16-Oct-2115$3,868 1111815$2,293 2$1,575
9-Oct-2120$8,610 1617516$7,795 4$815
2-Oct-2114$6,250 1113710$5,200 4$1,050
25-Sep-2111$11,460 9937$10,200 4$1,250
18-Sep-2111$16,603 8998$15,084 3$1,519
11-Sep-2117$10,653 1110313$8,503 4$2,150
4-Sep-2113$7,222 108911$6,715 2$507
28-Aug-2112$763 96311$663 1$100
21-Aug-2112$29,659 77911$29,579 1$80
14-Aug-2122$17,845 1119912$12,805 10$5,04
7-Aug-2117$13,670 1213915$11,766 2$1,904
31-Jul-2121$8,160 1113410$3,574 10$4,586
July 24,202121$6,367 1113915$3,712 6$2,655
17-Jul-2114$4,009 1112412$2,015 2$1,994
10-Jul-2116$3,997 1314311$1,597 4$2,4
3-Jul-2124$7,492 139416$3,769 8$3,722
26-Jun-2110$4,995 7858$3,847 2$1,148
19-Jun-2128$16,830 82289$1,861 19$14,968
12-Jun-2126$27,238 1520919$25,602 7$1,636
5-Jun-2115$15,539 1310013$14,709 2$600
29-May-2135$20,279 1114528$18,647$1,639
22-May-2124$53,208 1417417$51,047 7$2,161
15-May-2118$10,620 1322011$5,870 7$4,809
8-May-2117$10,400 1115615$8,386 2$2,500
1-May-2121$7,200 1611512$3,808 9$3,392
24-Apr-218$20,200 9318$20,200 00
17-Apr-2114$6,270 810211$40,180 3$2,260
10-Apr-2115$8,940 1312914$7,990 1$950
3-Apr-2118$19,513 1015112$16,923 6$2,590
27-Mar-2127$13,942 1524414$4,300 13$9,633.50
20-Mar-2111$2,046 41023$270 8$1,776
13-Mar-2115$3,270 91096$538 9$2,732
6-Mar-2124$13,617 1019613$10,395 11$3,222
27-Feb-2119$8,105 1213915$4,970 4$3,135
20-Feb-219$8,820 91538$8,520 1$300
13-Feb-2112$4,852.60 78172,7665$2,086.60
6-Feb-2118$9,752 1315314$5,222 4$4,530
30-Jan-2118$9,449 918215$8,753.80 3$695.30
23-Jan-2114$8,150 81186$4,000 8$4,150
16-Jan-2117$6,783 1313811$2,400 6$4,382.90
9-Jan-2122$6,829 1413518$3,139.30 4$3,690
2-Jan-217$1,466 7607$1,466 00
26-Dec-2018$15,900 1216316$5,300 1$600
19-Dec-2018$9,769 1411014$8,426 4$1,343
12-Dec-2010$7,200 91009$3,325 1$3,830
5-Dec-2015$4,261 91229$2,780 6$1,481
28-Nov-2019$7,758 1011013$4,003 6$3,755
14-Nov-2014$864.10 1415712$289.10 2$575
7-Nov-2013$6,332 91299$2,483.50 4$3,849
31-Oct-2010$3,995.80 81036$3,231.10 4$754.70
24-Oct-206$18,100 6585$17,709 1$350
17-Oct-208$351.90 5558$351.90 00
10-Oct-207$5,229 3504$735 3$4,494
3-Oct-2014$21,428 91739$17,535 5$3,893
26-Sep-2010$12,770 8935$10,300 5$2,470
19-Sep-2014$8,365 91016$1,020 8$7,345
12-Sep-206$4,406 8593$1,270 3$3,136
5-Sep-2011$5,191 81179$4,061 2$1,130
29-Aug-2011$2,531 9945$1,130 6$1,401
22-Aug-2018$6,574 121407$1,930 11$4,644
15-Aug-2013$4,991 10977$1,216 6$3,775
8-Aug-2012$32,092 111129$30,457 3$1,635
1-Aug-207$5,287 8765$3,687 2$1,600
25-Jul-209$18,751 6677$18,403 2$348
18-Jul-206$1,982.50 5504$1,407.50 2$575
11-Jul-2011$565.10 127510$65.10 1$500
4-Jul-2010$8,889 8989$8,788 1$100.30
27-Jun-208$6,874 10505$4,972.50 3$2,081.50
20-Jun-2012$4,444 91157$2,829 5$1,615
13-Jun-206$3,582 4372$350 4$3,232
6-Jun-2011$3,213.70 8657$470 4$2,743.70
30-May-208$7,335 7486$4,639 2$2,697
23-May-204$432.40 4343$432.40 10
16-May-206$310 6345$310 10
9-May-2018$5,630 1612414$3,180 4$2,450
2-May-201510,40010908$1,900 7$,8,500
25-Apr-208$3,400 9365$1,000 3$2,450
18-Apr-2019$9,500 14928$185.70 11$9,360
11-Apr-2012$6,000 9405$190 7$5,800
4-Apr-2014$8,200 116810$2,200 4$6,000
28-Mar-2016$6,500 139610$3,700 6$2,800
21-Mar-2011$11,910 7337$2,250 4$9,960
14-Mar-207809.86346684.81125
7-Mar-2016$2,500 157013$669 3$1,400
29-Feb-2013$15,260 1312811$11,760 2$3,500
22-Feb-2012$3,700 109210$2,560 2$1,130
15-Feb-2016$1,250 108412$35 4$1,222
8-Feb-2018$6,080 1412314$2,595 4$3,485
1-Feb-2021$20,900 1210114$17,860 7$3,060
25-Jan-2013$7,430 136212$6,430 1$1,000
18-Jan-2023$9,580 1512019$6,580 4$3,000
11-Jan-2021$14,200 1819916$1,020 5$13,200
4-Jan-2022$6,400 1111916$3,204 6$3,245
28-Dec-1922$7,150 1917518$6,800 4$327.40
14-Dec-1924$36,300 2316719$9,500 5$26,800
7-Dec-1911$10,400 11557$1,082 4$9,370
November 30. 201914$2,450 1212612$1,760 2$692.50
23-Nov-1916$1,995 104111$615 5$1,380
16-Nov-1915$3,820 1313511$2,500 4$1,271
9-Nov-1925$12,900 1718223$12,200 2$575
2-Nov-1910$2,470 126192,4503$22
26-Oct-1912$5,560 147011$3,860 1$1,700
19-Oct-198$6,600 81388$6,600 00
12-Oct-1919$4,300 145516$3,800 3$500
5-Oct-1918$14,500 1916615$11,100 3$3,400
28-Sep-1919$8,100 1813218$7,560 1$550
21-Sep-1914$6,300 166611$2,160 3$4,170
14-Sep-1915$23,800 125611$21,250 4$2,570
7-Sep-1917$3,500 159814$1,900 3$1,600
31-Aug-195$8,700 6505$8,700 00
24-Aug-1916$10,000 148215$4,250 1$5,750
16-Aug-1910$1,680 5527$650 3$950
9-Aug-1917$17,700 156814$3,900 3$13,800
2-Aug-1913$5,760 1210813$5,760 NANA
27-Jul-1911$7,300 13768$6,570 3$730
20-Jul-1913$11,800 1312511$5,300 2$6,500
13-Jul-1910$775 7468$542.50 2$233
6-Jul-197$2,500 9857$2,500 00
29-Jun-1923$8,290 1515417$2,300 6$5,970
22-Jun-1917$10,700 1013914$7,700 3$3,000
15-Jun-1911$13,500 1416011$13,500 NANA
8-Jun-1913$2,870 175511$1,570 2$1,300
1-Jun-1910$4,460 11608$4,140 2$315
25-May-1917$4,360 147914$3,700 3$612
18-May-1922$9,000 1715016$3,400 6$5,600
11-May-1918$19,800 1717715$18,300 3$1,500
4-May-1910$7,075 6328$6,900 2$175
27-Apr-1915$3,200 1411714$3,160 1$40
20-Apr-1913$13,500 10909$12,200 4$1,300
13-Apr-1916$38,900 149114$37,800 2$1,100
6-Apr-1912$6,870 119410$6,730 2$50
30-Mar-1915$6,470 128410$7,91.55$5,677
23-Mar-1918$6,450 149114$5,042 4$1,408
16-Mar-1914$10,180 1211511$8,800 3$1,300
9-Mar-199$1,800 6498$1,300 1$500
2-Mar-1920$3,033 1610714$1,817 6$1,262
23-Feb-1912$2,040 8699$614.60 3$1,430
16-Feb-1916$9,970 187716$9,970 00
9-Feb-1914$6,400 1011014$6,400 00
2-Feb-1918$6,740 159916$5,720 2$950
26-Jan-1913$2,770 116711$918.95 2$1,850
19-Jan-1915$3,819 167612$2,594 3$1,225
12-Jan-1918$7,283 149215$1,683 3$5,600
5-Jan-1910$529 125010$529 00
22-Dec-1817$2,570 138714$941 3$1,629
15-Dec-1810$2,860 8268$264 2$2,600
8-Dec-1815$1,819 166512$552 3$1,267
1-Dec-1812$7,500 10909$1,200 3$6,200
28-Nov-1815$4,500 1110714$4,000 1$500
19-Nov-1818$6,137 139813$2,142 5$3,995
14-Nov-1818$9,200 1315215$8,500 3$694
6-Nov-1816$17,300 1618314$16,361 2$950
29-Oct-1814$14,400 1812717$13,800 1$600
24-Oct-1813$6,140 1312611$5,122 2$1,018
17-Oct-1818$18,390 1512514$12,292 4$6,098
10-Oct-1829$3,149 1810420$1,647 9$819
2-Oct-1818$9,300 116714$7,300 4$2,000
25-Sep-1813$7,000 117510$6,000 3$995
18-Sep-189$3,570 7449$3,570 00
11-Sep-1813$5,900 1013213$5,900 00
7-Sep-1814$5,000 158611$4,000 3$1,000
29-Aug-1815$20,700 147913$4,700 2$16,000
20-Aug-1810$12,400 11538$11,380 3$1,057
14-Aug-1812$19,900 121329$18,889 3$1,011
7-Aug-1816$68,600 1110613$67,259 3$1,340
31-Jul-1815$15,100 159511$13,060 4$2,060
23-Jul-1813$2,130 156010$1,804 3$1,100
17-Jul-1814$5,370 17989$4,310 5$1,100
9-Jul-1816$11,200 157410$11,080 6$862
3-Jul-1813$7,000 78112$6,330 1$750
25-Jun-1815$8,800 13979$4,970 6$3,930
18-Jun-1813$14,200 14807$221 6$14,290
11-Jun-1812$6,300 8968$5,910 4$803
6-Jun-1813$14,500 10888$14,154 5$579
31-May-1811$4,890 10638$3,240 3$1,790
22-May-1815$20,400 11639$19,808 6$885
15-May-1815$4,700 1510610$3,900 5$643
9-May-1811$1,400 13889$1,300 2$560
1-May-188$14,250 7887$13,400 1$450
24-Apr-1812$5,300 66111$4,470 1$800
17-Apr-189$1,800 10447$2,330 2$1,434
11-Apr-1811$2,500 8326$1,690 5$809
3-Apr-1815$13,400 111219$12,020 6$1,090
28-Mar-1810$4,000 10927$3,870 3$215
19-Mar-1817$5,800 135110$590 7$5,165
12-Mar-1815$3,130 114311$2,360 4$788
6-Mar-1819$5,400 1311610$1,530 9$4,860
27-Feb-1820$6,600 136914$5,530 6$1,030
19-Feb-1815$5,500 1411110$3,990 6$1,980
12-Feb-1823$10,900 1715712$7,110 11$3,840
5-Feb-1816$8,600 131007$1,330 9$7,800
30-Jan-1811$12,600 11685$7,300 6$4,982
24-Jan-1819$9,400 151295$2,010 14$7,337
18-Jan-1810$6,280 8492$2,100 8$4,188
9-Jan-1812$16,500 12929$15,890 3$475
3-Jan-1810$2,500 9478$2,350 2$150
27-Dec-1715$9,000 151139$7,568 6$1,784
18-Dec-1715$13,800 161649$13,010 7$1,118
11-Dec-1714$9,700 1012612$2,940 4$8,500
4-Dec-176$1,800 6315$1,510 1$300
28-Nov-177$3,850 8764$3,260 3$285
16-Nov-1710$2,700 10486$1,840 4$856
8-Nov-1715$2,380 179110$1,860 5$516
1-Nov-1712$4,700 17949$3,400 4$1,300
23-Oct-1715$10,500 106710$9,780 4$1,530
18-Oct-176$2,000 373$225 3$1,820
10-Oct-1712$6,570 1009$3,880 3$3,360
2-Oct-178$3,100 11193$1,630 5$1,750
25-Sep-178$4,880 8795$2,660 5$2,070
18-Sep-179$4,770 3$300 6$4,470
12-Sep-1711$4,430 8$2,030 3$2,400
1-Sep-174$1,310 3$317 1$1,000
23-Aug-1711$13,640 98$11,840 3$1,800

M&A/Fundings

Phillips 66 acquires Phillips 66 Partners for $3.4B

Deal Description: Phillips 66 and Phillips 66 Partners announced Oct. 27 that they have entered into a definitive agreement for Phillips 66 to acquire all of the publicly held common units representing limited partner interests in the partnership not already owned by Phillips 66 and its affiliates in a transaction valued at $3.4 billion. The move is intended to simplify governance and corporate structure.

Buyer’s In-House Counsel: General Counsel Paula Johnson

Buyer’s Outside Counsel: Latham & Watkins led by Houston partner Thomas Brandt and Austin/Houston partner Bill Finnegan with Houston associates Thomas Verity, Jonathan Villa, Josh Blankenship and Zek Zhang. Other Texas team members included Houston partners Tim Fenn and Bryant Lee on tax and Houston partner Joel Mack on environmental matters.

Buyer’s Financial Advisor: Citi (Michael Jamieson, Claudio Sauer and Brad Epstein) and BofA Securities Inc.

Seller’s Outside Counsel: Vinson & Elkins led by senior partner Alan Bogdanow and partner Peter Marshall and associates Cameron Land, Madison Bertrand and Leah Powers; partner Jim Meyer and senior associate Brian Russell on tax; counsel Sarah Mitchell on insurance; counsel Damien Lyster on energy regulatory; counsel Brandon Tuck on environmental; partner Brian Bloom on executive compensation/benefits; partner Jeremy Marwell on appellate; and partner Craig Zieminski and counsel Robert Ritchie on litigation.

Expected closing date: Q1 2022

Notes: LW’s Brandt advised Phillips 66 Partners on its $434 million initial public offering and Phillips 66 on the sales of midstream assets to Phillips 66 Partners totaling $5 billion. V&E’s Bogdanow also worked on various matters for Phillips 66 Partners.

Clearway announces $1.9B sale of thermal business to KKR

Deal Description: Clearway Energy Inc. announced Oct. 25 that it entered into a binding agreement to sell its thermal business to KKR for $1.9 billion. The company expects to receive net cash proceeds of $1.3 billion after the assumption of project level debt, estimated taxes and obligations owed, transaction expenses and capital expenditures required to be funded as part of the deal. Known as Clearway Community Energy, the business consists of thermal infrastructure assets that provide steam, hot water and/or chilled water and electricity to commercial businesses, universities, hospitals and governmental customers across the U.S. The company’s CEO Christopher Sotos said the divestiture will provide Clearway with financial flexibility and will eliminate the need to issue new equity to fund its committed investments while also providing capital to fund future growth objectives and further enhance shareholder value. Clearway is sponsored by its controlling investor Global Infrastructure Partners.

Expected Closing: First half of 2022

Buyer’s Outside Counsel: Kirkland & Ellis led by corporate partners John Pitts, Melissa Kalka and Ben Hardison and associates Paige Lager, Jessica Berkowitz, Brittany Scheier, John Phelan and Austin Johnson; and debt finance partners Roald Nashi and Sebastian Chan and associates Charles Martin, Adam Birnbaum and Graham Owen.

Buyer’s Financial Advisor: Morgan Stanley

Seller’s Outside Counsel: Gibson Dunn & Crutcher led by partner Jerry Farano in Denver; Texas team members included associates Mike Cannon and Josiah Bethards in Dallas and partner Hillary Holmes in Houston. 

Seller’s In-House Counsel: Clearway General Counsel Kevin Malcarney in Haddonfield, N.J.

Seller’s Financial Advisors: BofA Securities and TD Securities

Notes: Kirkland’s Pitts has advised KKR many times on energy transactions, including on its agreements with NextEra Energy Resources and NextEra Energy Partners to acquire a large portfolio of renewables assets in 2020 for $1.4 billion.

Crestwood buys Oasis Midstream in $1.8B deal

Deal Description: Crestwood Equity Partners and Oasis Midstream Partners on Oct. 26 announced that they entered into a definitive merger agreement in which Crestwood will acquire Oasis Midstream in an equity and cash transaction valued at $1.8 billion, including debt. More on the deal, including advisors, here.

Rattler buys water midstream assets from Diamondback for $160M in drop-down deal

Deal Description: Midland-based Rattler Midstream, part of oil and gas explorer Diamondback Energy Inc., announced Oct. 21 that its unit agreed to buy some water midstream assets from units of Diamondback for $160 million in cash in a drop-down transaction. The assets consist primarily of produced water gathering and disposal systems, produced water recycling facilities and sourced water gathering and storage assets acquired by Diamondback from QEP Resources Inc. and Guidon Operating in early 2021. Diamondback will add some of its leasehold acreage to the Rattler dedication. Rattler intends to fund the transaction through cash on hand and borrowings under its revolving credit facility.

Expected closing date: Q4 2021

Rattler’s Conficts Committee’s Outside Counsel: Hunton Andrews Kurth led by partner Mike O’Leary and assisted by partner Ian Goldberg and associates Alex Miron, Kathleen Dill, and Alexa Williams. Partner Tom Ford and associate Caitlin Scipioni provided tax services.

Rattler’s Conficts Committee’s Financial Advisor: Raymond James

Diamondback’s Outside Counsel: Akin Gump Strauss Hauer & Feld led by corporate partner Gabe Procaccini and including global corporate practice co-head John Goodgame, tax partner Alison Chen and corporate associates Leana Garipova and Alan Sanchez.

Notes: Diamondback, Rattler and affiliate Viper have been longtime clients of Akin Gump, including Goodgame.

FirstCash acquires rent-to-own company America First Financial in $1.17B deal

Deal Description: Fort Worth-based FirstCash, which operates 2,800 pawnshops in the U.S. and Latin America, announced Oct. 28 that it had acquired America First Finance, a lease-to-own operation, for $1.17 billion, including $406 million in cash. As part of the transaction FirstCash will form a new parent company that will trade on Nasdaq under the FirstCash ticker (FCFS).

Buyer Outside Counsel: Alston & Bird advised with a team led from Atlanta by partner Kyle Healy, but included Dallas/Fort Worth partner Mitchell Griffith and Dallas associate Maddie Giese.

Buyer Financial Advisor: Jefferies; Comstock Capital & Advisory

Seller Outside Counsel: King & Spalding

Seller Financial Advisor: Stephens Inc.

Notes: Doug Rippel, chair and founder of America First Finance, will own about 16.6% of the new company personally and through his affiliates and AFF will continue to operate as a separate Dallas-based business unit within FirstCash.

Dawson Geophysical announces merger with Wilks Bros. for $54M

Deal Description: Midland-based Dawson Geophysical Co. and Wilks Bros. announced Oct. 25 that they have entered into a definitive merger agreement for Wilks to acquire all of Dawson’s outstanding common shares for $2.34 per share in cash. Dawson’s board launched a review of the company’s potential strategic alternatives in mid-2019 due to dwindling demand for its services and an ongoing skilled labor shortage required to meet any potential increase in demand. The board believes that the transaction presents Dawson shareholders with an opportunity to achieve liquidity for their shares, is the most optimal path forward and is in the best interest of the stockholders. Jim Wicklund, managing director of energy investment banking at Stephens, said in a note that Wilks bought Dawson for around $54 million, including Dawson’s $46 million in cash on its books, putting the enterprise value below $8 million.

Wilks’ Outside Counsel: Vinson & Elkins led by partners Mike Telle and Chris Collins with assistance from associates Bobbi Ingram and Chloe Schmergel. Also advising were senior associate Brett Peace (activism); partner Lina Dimachkieh, senior associate Brian Russell and associate Lauren Nieman (tax); partner David D’Alessandro, counsel Dario Mendoza and associate Maddison Riddick (executive compensation/benefits); partner Devika Kornbacher, counsel Rajesh Patel and associate Marcus Martinez (technology transactions/IP); partner Matt Dobbins and associates Austin Pierce and Simon Willis (environmental); and partner Guy Gribov, senior associate Alex Kamel and associates Joe Higdon and Jeremy Gopin (finance).

Dawson’s Outside Counsel: Baker Botts advised from Dallas and Houston with partner Grant Everett, partner Luke Weedon, senior counsel Neel Lemon and associates Derek Gabriel, Rusty Shellhorn and Marshall Heims. Dallas partner Jason Loden advised on benefits issues.

Dawson’s Financial Advisor: Moelis & Co., including David Cunningham in Houston and Jay Finney in New York

Notes: Baker Botts’ Everett advised Dawson on its acquisition of TGC Industries in 2015 for $157 million in stock. V&E’s Telle counseled Carbo Ceramics Inc. on its acquisition by Wilks and Equity Financial through a debt-for-equity exchange related to a plan of reorganization in a Chapter 11 bankruptcy case.

Elk Range acquires Permian Basin royalty interests from unnamed seller 

Deal Description: Elk Range Royalties, once known as Luxe Energy, announced Oct. 6 it had acquired certain Permian Basin royalty interests from an unnamed seller for an undisclosed sum. The assets include roughly 2,600 core net royalty acres evenly split between the Delaware and Midland Basins with most of the interests located in Loving, Reeves, Upton and Midland Counties, Texas, and Lea County, New Mexico. There are 250 producing horizontal wells and 650 remaining undeveloped locations. Last 12 months’ cash flow on the assets was $10.8 million and includes top operator exposure to Devon, Pioneer and Endeavor. Elk Range funded the acquisition through a combination of its equity commitment from NGP Royalty Partners and its credit facility with Texas Capital Bank.

Buyer’s Outside Counsel: Kirkland & Ellis led by corporate partner Rahul Vashi and associates Alia Heintz, Skyler Sikes, and Zach Scott with assistance from corporate partner Shubi Arora, tax partners David Wheat and Joe Tobias and debt finance partner Lucas Spivey and associate Scott Reid.

Notes: Vinson & Elkins advised predecessor Luxe on its sale to Colgate Energy Partners III this past June.

Rockland purchases Texas peaker plants from JDH

Deal Description: Rockland Capital announced Oct. 13 that one of its funds acquired 100% of the interests in two peaking plants via an affiliate named Texas Peaker Power from a unit of JDH Capital Co. Terms weren’t disclosed. The facilities are two 100 megawatt natural gas-fired simple cycle power plants, Chamon and Port Comfort, which are located in Houston and Point Comfort, Texas. Chamon sells energy and ancillary services into the ERCOT Houston Zone and Port Comfort sells energy and ancillary services into the ERCOT South Zone. Rockland is currently investing Rockland Power Partners III, a $454 million private equity fund with investors that include U.S. endowments and foundations, funds of funds, pension plans and family offices.

Seller’s In-House Counsel: General Counsel Michael Fertitta in Houston

Seller’s Outside Counsel: Kirkland & Ellis led by corporate partner Jhett Nelson and associates Josh Rocha and Nick Lewis; together with corporate partners John Pitts, Chris Heasley and associates Oscar Leija, Jordan Silverman and Cassidy Hall; litigation partners Anna Rotman and Ben Barnes; debt finance partner Will Bos and associates Marco Chan and Chris Gambini; energy regulatory partners Brooksany Barrowes and Drew Stuyvenberg; tax partners David Wheat and Steve Butler and Nicole Martin; environmental transactions partners Paul Tanaka and James Dolphin; and transactional liability insurance partner Hayley Hollender.

Buyer’s Outside Counsel: Bracewell including partner Ryan Holcomb

Notes: Kirkland’s Nelson counseled JDH when it sold Elite Compression in 2019 for $410 million. Rockland has been a longtime client of Bracewell’s, including Holcomb, who advised it on the acquisition of six generating plants from DPL unit AES in 2018 for $241 million.

Houston regenerative medicine startup Volumetric acquired by 3D Systems

Deal Description: Volumetric, a Houston-based biomaterials start-up, announced Oct. 27 that it is being acquired by 3D Systems for $45 million in cash and stock with specified earnouts that could stretch the total acquisition price to as much as $355 million. The group is developing bioprinting technologies aimed at generating whole human organ replacements using 3D bioprinting.

Seller Outside Counsel: Shearman & Sterling advised Volumetric. Alan Bickerstaff, an Austin partner in Shearman’s emerging growth practice, led the effort with Austin counsel Cassandra Cuellar.

Buyer Financial Advisor: pH Partners

Buyer Outside Counsel: Hunton Andrew Kurth advised 3D Systems with a team led by Gary Thompson in Richmond. Texas lawyers on the team included: Dallas partners Alan Marcuis and Alexander McGeoch, as well as Dallas associates Gary Enis and Caitlin Scipioni.

Notes: Hunton AK has a longstanding relationship with 3D Systems. The firm established a 3D printing practice in 2016 led by Richmond-based partner Maya Eckstein.

Texas Citizens Bank acquired by Louisiana bank

Deal Description: In an all-stock transaction announced Oct. 21, Texas Citizens Bancshares has agreed to merge with Louisiana-based Business First Bancshares. Business First, based in Baton Rouge, is the holding company of b1BANK and under the deal, Houston’s Texas Citizens Bank will become b1BANK. The transaction is valued at $52.9 million.

Seller Financial Advisor: Piper Sandler advised Texas Citizens

Seller Counsel: Bracewell advised Texas Citizens with a Texas team led by Josh McNulty of Dallas and Scott Sanders in Houston. Also advising from Houston were partners Rebecca Baker, Will Anderson and Matthew Grunert and associates Kate Barrington McGregor, Shannon Baldwin, Jay Larry, Caroline Melo and Margo McEntire. Dallas counsel Ian Brown also advised, as did partner Don Lonczak from Washington, D.C., and associate Michael Recchia from New York.

Buyer Financial Advisor: Business First chose Stephens to advise on finance.

Buyer Counsel: Fenimore Kay Harrison & Ford advised Business First

Notes: Business First Bancshares has banking centers across Louisiana and Dallas. The Texas Citizens acquisition is its first in the Houston area. It may not be the last. Texas Citizens chair and CEO Duncan Stewart will join b1Bank as Houston region chair.

Canadian software company acquires Sabre’s AirCentre operations

Deal Description: CAE Inc., a leading Canadian aviation technology firm, has agreed to purchase Sabre Corp.’s AirCentre airline operations portfolio for $392.5 million. The AirCentre operations, based in Southlake, provides software for the management of all aspects of flight operations for more than 150 airline customers across the globe.

Seller Outside Counsel: Skadden Arps advised Sabre with a team led by partners Kenton King and Sonia Nijjar, both of Palo Alto, backed by lawyers from New York and Washington.

Notes: Sabre’s sale of its AirCentre signals the company’s determination to focus on its core business of providing fulfillment software for travel agencies, hoteliers and airlines. The company’s platforms manage more than $260 billion worth of global travel annually.

Oaktree Capital Management invests $150M in fintec Mission Lane

Deal Description: With aims at becoming a programmatic issuer in the securitization market, Virginia-based credit card provider Mission Lane announced a $150 million preferred equity investment by Oaktree Capital Management.

Financial Advisor: FT Partners and Guggenheim Securities

Securitization Managers: Goldman Sachs and Guggenheim Securities

Investor Counsel: Oaktree Capital was advised by a Kirkland & Ellis team led by partners Jhett Nelson in Houston and Hamed Meshki in Century City. Also involved were partner Jennifer Gasser, associate Oscar Leija from Austin and tax partners Vivek Ratnam and Mike Benius in New York.

Notes: Oaktree was an existing investor in Mission Lane, which was created as a stand-alone in 2018 from the credit card division of LendUp. Mission Lane recently announced the issuance of its one millionth credit card and reported 100% revenue growth in 2021.

Weatherford Capital leads $50M series B raise for Coterie Insurance

Deal Description: Coterie Insurance, a small business fintech provider, said Oct. 26 that it had raised $50 million in a Series B financing round led by Dallas-Tampa family PE firm Weatherford Capital. Coterie Insurance, formed in Cincinnati in 2018, says the new funding brings its total raise to $75 million.

Funding Counsel: Weatherford was advised from Austin by Vinson & Elkins partner Wes Jones along with associate Clayton Cromer.

Notes: Weatherford joins existing Coterie investors RPM Ventures, Intact Ventures, Group 1001 and Alpha Edison. Dallas native Will Weatherford, co-founder of Weatherford Capital with brothers Drew and Sam Weatherford, was speaker of the Florida House.

Liberty Oil Field Services buys PropX

Deal Description: Liberty Oil Field Services said October 26 that it has agreed to buy Proppant Express Investments, a Denver-based fracking company known as PropX. Shreveport-based Liberty set the acquisition cost at $90 million, including $13.5 million in cash and 5.8 million common shares of Liberty valued at $76.5 million.

Buyer Outside Counsel: Willkie Farr advised PropX with a team led by Houston partners Bruce Herzog and Jeff Jochman.

HungerRush acquires Menufy

Deal Description: HungerRush, a Houston-headquartered SaaS platform specializing in the restaurant trade, announced Oct. 26 that it is acquiring the food platform Menufy. Terms were undisclosed. The acquisition adds additional on-line ordering capabilities —in demand even before the onset of the pandemic — to HungerRush’s extensive reach in point-of-sale technology. HungerRush 360, the company’s signature platform, integrates digital ordering, delivery, customer engagement, restaurant management and payment processing.

In-House Counsel: HungerRush GC is Matthew Hoeg

Buyer Counsel: HungerRush was advised by Willkie Farr with a team led from Houston by partners Bruce Herzog and Angela Olivarez.

Notes: HungerRush is backed by the CapStreet Group, also Houston-based. Last December, Willkie’s Herzog and Olivarez advised CapStreet on its sale of Griffin Dewatering.

CAPITAL MARKETS

Athabasca Oil closes $350M in notes financing

Deal Description: Calgary-based Athabasca Oil Corp. announced Oct. 25 that it closed the issuance of $350 million of senior secured notes. The new notes have a coupon rate of 9.75% and a 5-year term until 2026. The notes provide Athabasca with the ability to further reduce debt in the near-term by using 75% of free cash flow semi-annually to retire notes at 105% of face value. The notes offering included the issuance of 79.4 million warrants with a strike price of $0.9441 per warrant and a cashless exercise feature that reduces future equity dilution by issuing new common shares for only the “in-the-money” value of the warrant. Athabasca’s strategy is to position itself as a low leveraged company that will generate significant free cash flow through its low-decline, oil weighted asset base.

Initial Purchasers’ Outside Counsel: Latham & Watkins with a corporate deal team led by Houston/Austin partner Michael Chambers and Houston partner Trevor Lavelle with Houston associates Om Pandya, Michael Pascual, Anthony Tan and Anji Yuan. Advice was also provided on tax matters by Houston partner Jim Cole with Houston associate Michael Rowe.

Bookrunners: Goldman Sachs as lead, ATB Capital Markets as co-lead and BMO Capital Markets as joint bookrunner.

Athabasca’s Outside Counsel: Norton Rose Fulbright Canada

HighPeak announces pricing of $22M common stock

Deal Description: Fort Worth-based HighPeak Energy Inc. announced Oct. 20 the pricing of its underwritten public offering of 2.2 million shares of its common stock at a price tof $10 per share. The company also granted the underwriters a 30-day option to purchase up to an additional 330,000 shares at the public offering price. HighPeak intends to use the net proceeds of $20.2 million for general corporate purposes, which may include accelerating its drilling and development activities and funding further bolt-on acquisitions. The offering was expected to close on Oct. 25. HighPeak is a publicly traded independent oil and natural gas company focused on the acquisition, development, exploration and exploitation of unconventional oil and natural gas reserves in West Texas’ Midland Basin.

HighPeak’s Outside Counsel: Vinson & Elkins, including a corporate team was led by partner Sarah Morgan, senior associate Jackson O’Maley and associate Ximena Kuri with assistance from associates Brandon Brunet and Taylor Kim. Also advising were partner John Lynch, senior associate Megan James and associate Jeff Slusher (tax); partner Matt Dobbins and associate Austin Pierce (environmental); and partner Shane Tucker and associate Maddison Riddick (executive compensation/benefits).

Offering Managers: Roth Capital Partners; Northland Capital Markets and Seaport Global Securities

Notes: V&E’s Morgan advised HighPeak Energy Partners and its affiliates in a $900 million business combination with SPAC Pure Acquisition Corp.

Seaport Calibre SPAC announces $130M IPO

Deal Description: A blank check company seeking a merger with a company in the sheet metal processing space announced Oct. 27 that it is offering 13 million shares. The SPAC is jointly sponsored by Seaport Global Asset Management and Calibre Group.  

Issuer Counsel: Seaport Calibre was advised from New York by Paul Hastings partners Frank Lopez, Jonathan Ko, William Burns and James Shea Jr.

Underwriters: The IPO is being underwritten by Seaport Global Securities and, because of potential conflicts of interest, Chardan Capital Markets is serving as independent underwriter.

Underwriters Counsel: Baker Botts advised the underwriters with a team led from Houston by partners Travis Wofford and Doug Getten. The team also included associates William Cozzens and Parker Hinman with partner Michael Bresson and senior associate Jared Meier advising on tax matters.

Notes: The SPAC is headed by Stephen Smith, chair of Seaport Global Management and Jim Tumulty of Calibre Group.

Anthemis SPAC goes public with $200M IPO

Deal Description: Anthemis Digital Acquisitions I Corp. announced the pricing of its blank check IPO Oct. 27. The SPAC is sponsored by New York based fintec investors Anthemis Group. Anthemis Digital, which intends to seek a merger partner in the fintec space, priced 20 million units of the blank check firm at $10 per unit.

Issuer Counsel: Latham & Watkins represented Anthemis SPAC in the offering with a capital markets team led by New York partner Marc Jaffe and the ubiquitous Houston-based SPAC specialist, Ryan Maierson, as well as a team of New York-based attorneys.

Notes: The SPAC boasts an all-woman team of managers that includes Amy Nauiokas, the co-founder of Anthemis Group, whose background includes investments in Fidor Bank, Trōv, Currencycloud, Simple and the Climate Corp.

Group 1 Automotive in $200M private placement of 4% senior notes

Deal Description: Group 1 Automotive, Inc. announced the close Oct. 21 of its private placement of $200 million in aggregate principal amount of its 4.000% senior unsecured notes due 2028. The notes are to be sold to investors at 100.250% of principal, implying an effective yield to maturity of approximately 3.957%.

Issuer Counsel: Group 1 selected Vinson & Elkins to advise on the offering with a corporate team led by partners Gillian Hobson and David Stone. Support was provided by senior associate Andrew Schulte, with assistance from associates Shane Copelin and Zac Horne. Also advising were partner Wendy Salinas and associate Olivia Sher (tax); partner Shane Tucker and senior associate Missy Spohn (executive compensation/benefits); partner Palmina Fava and senior associate Brian Howard (FCPA); counsel Larry Pechacek and associate Kevin Moscon (environmental); partner Quentin Smith and associate Aurra Fellows advised on litigation.

Notes: Houston-based Group 1 Automotive is one of the nation’s largest retail auto sales groups with 190 dealerships, 247 franchises and 48 collision centers across the U.S., the UK and Brazil.

Houston-based Pyrophyte Acquisition Corp. in $201.5M up-sized IPO

Deal Description: Seeking to merge with an energy transition technologies company, Houston’s Pyrophyte Acquisition Corp. closed its IPO with $201.5 million in funds. The company is headed by Sten Gustafson, chairman of Golden Energy Offshore, a Norwegian O&G producer.

Issuer Counsel: White & Case with New York partner Elliott Smith.

Bookrunner: UBS Investment Bank

Notes: Gustafson attended Rice University and University of Houston Law Center and is a former investment banker at Deutsche Bank and UBS. The company’s CFO, Thomas Major, is a managing partner at Houston’s MB Energy Partners.

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